Fortescue Metals Group CEO Elizabeth Gaines is leaving her post as the company transitions from an iron ore and metals and plays an increasing role in green energy.
But she will remain on the board as a non-executive director, and global green hydrogen bran ambassador, FMG said in a statement to the Australian Securities Exchange on Friday.
It comes as FMG chairman Andrew 'Twiggy' Forrest visited the Hunter to declare the region's renewable energy infrastructure second-to-none in leading the clean energy revolution.
"The future is definitely renewable energy. The change we are going through will be bigger than anything we have ever seen; it will be a greater change than the industrial revolution. And we ladies and gentlemen here in the Hunter are at the heart of it," Dr Forrest said during a visit to Liddell Power Station Wednesday.
"I would like to see the Hunter become one of the great pearls if not the great pearl of the renewable energy product and fuel sector of our planet and of our country."
With regard to Ms Gaines' stepping down from her post on Friday, he said FMG was undergoing a significant transition as it decarbonises its business.
"Elizabeth has, with the full support of the board of directors, chosen to assist the selection of a new CEO to lead the development of the diversified renewables and resources group, and will transition from the CEO role," FMG said in a statement.
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The company has engaged the elite executive search firm Egon Zehnder to support the global search for a new CEO.
Ms Gaines had been CEO since February 2018 and executive director since February 2017. She had served as chief financial officer after joining the board as a non-executive director from 2013.
The West Australian group says it now has one of the largest portfolios of green hydrogen, green ammonia, green iron ore, green iron and other green product developments in the world.
Dr Forrest praised Ms Gaines as an inspiring leader of great character and integrity.
Ms Gaines said she was "delighted" to remain on the board and help with the search for a new CEO.
"I know that the successful candidate will be able to build on our excellent operational performance and lead the diversification of Fortescue," she said.
- with reporting from AAP
